Vans Owner VF Cut to Junk as Sales Drop at Firm’s Top Brands

Bloomberg11-14

(Bloomberg) -- VF Corp., the owner of Vans and other brands, was cut to junk by S&P Global Ratings Wednesday as revenues for its top four brands continued falling in the second quarter. S&P lowered ...

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The company posted weak second-quarter sales last month for Vans, The North Face, Dickies and Timberland.S&P’s rating could be cut further if its core brands fail to return to growth — a result of changing tastes, weak consumer demand, or supply chain disruption. VF’s ability to drive a turnaround at Vans, its largest brand, and reaccelerate momentum at The North Face are key to growth, BI analysts Poonam Goyal and Sydney Goodman wrote in a note.A spokesperson for VF Corp. did not immediately respond to a request for comment.Moody’s Ratings downgraded the apparel brand company’s rating to junk in September.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"VFC":"威富集团","MCO":"穆迪"},"translate_title":"由于公司顶级品牌销量下降，Vans所有者VF将其削减至垃圾级","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MCO":0.9,"VFC":0.9},"content_text":"(Bloomberg) -- VF Corp., the owner of Vans and other brands, was cut to junk by S&P Global Ratings Wednesday as revenues for its top four brands continued falling in the second quarter.\nS&P lowered Denver-based VF’s issuer credit rating two notches to BB from BBB-, its “less favorable view of VF’s competitive position,” according to a statement. The company posted weak second-quarter sales last month for Vans, The North Face, Dickies and Timberland. \nS&P’s rating could be cut further if its core brands fail to return to growth — a result of changing tastes, weak consumer demand, or supply chain disruption. VF’s ability to drive a turnaround at Vans, its largest brand, and reaccelerate momentum at The North Face are key to growth, BI analysts Poonam Goyal and Sydney Goodman wrote in a note.\nA spokesperson for VF Corp. did not immediately respond to a request for comment.\nMoody’s Ratings downgraded the apparel brand company’s rating to junk in September. \n©2024 Bloomberg L.P.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483385493"}